Menu
Finance

Major League Cricket raises $44M in funding round led by Microsoft's Nadella

By David Broughton

Major League Cricket has completed a $44M Series A and A1 fundraising round, with an additional commitment of $76M from investors over the next 12 months. Microsoft CEO Satya Nadella, a Sounders investor who also oversaw Microsoft’s $68.7B acquisition of Activision Blizzard earlier this year, is one of the lead investors in the fundraising. The $120M will primarily be earmarked to build cricket-specific stadiums and training centers in the U.S. Over the past three months, pro cricket projects have been unveiled in Grand Prairie, Texas; Redmond, Wash.; at the Santa Clara County Fairgrounds in San Jose, Calif.; in Morrisville, N.C.; and Irvine, Calif. MLC’s 27-team Toyota Minor League Cricket presented by Sunoco circuit launched last year as a ramp up to the expected 2023 debut of the country’s first-ever professional Twenty20 league, a fast-paced, 3-hour version of the sport. MLC was advised by Hogan Lovells, a law firm whose recent work includes representation of Oracle in its ballpark naming-rights deals with the MLB Giants, and the Spurs on their strategic investment from Sixth Street and Michael Dell. The firm’s Craig Umbaugh and Matthew Eisler were named SBJ Power Players last fall.


SBJ Morning Buzzcast: August 9, 2022

The end of the Bowlen era in Denver; Big Ten media deal close? Also, Jake Paul's venture in sports betting and Eck's walk-off.

SBJ I Factor: Jed York

SBJ I Factor: Jed York, presented by Allied Sports SBJ I Factor presented by Allied Sports features an interview with San Francisco 49ers CEO Jed York. York is in his 17th year with the organization and his 12th as CEO. He is a two-time SBJ Forty Under 40 honoree as a member of the classes of 2012 and 2013. York talks with SBJ’s Abe Madkour about what he learned from growing up in the sports business, working in multiple departments at the team, the challenges of building Levi’s Stadium, and how his leadership style has evolved through the years. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards, such as Forty Under 40, Game Changers and others.

SBJ Spotlight: Warner Bros. Discovery

CNBC media reporter Alex Sherman joins SBJ’s John Ourand to discuss Warner Bros. Discovery’s streaming strategy. The two talk about the company’s interest in sports rights, with Sherman noting that the company is in a cost-cutting mode, which is one reason why it has not been active in media rights negotiations over the past several months.

Shareable URL copied to clipboard!

https://sbjcd01.centralus.cloudapp.azure.com/Daily/Issues/2022/05/18/Finance/ML-Cricket.aspx

Sorry, something went wrong with the copy but here is the link for you.

https://sbjcd01.centralus.cloudapp.azure.com/Daily/Issues/2022/05/18/Finance/ML-Cricket.aspx

CLOSE
;